Goldlion Holdings Ltd reports 22.8 pp EBITDA Margin decline from 22.8% to in 2016 in 2016
20/03/2017 • About Goldlion Holdings Ltd (
$533) • By InTwits
Goldlion Holdings Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Goldlion Holdings Ltd is a company in decline: FY2016 revenue growth was -2.5%, 5 years revenue CAGR was -4.0%
- It operates with high leverage: Net Debt/EBITDA is 3.8x while industry average is 0.9x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Goldlion Holdings Ltd ($533) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 1,863 | 1,875 | 1,541 | 1,510 | 1,472 | -2.5% |
| Gross Profit | 1,050 | 1,014 | 859 | 906 | | -100.0% |
| SG&A | 596 | 598 | 556 | 618 | | -100.0% |
| EBITDA | 481 | 440 | 347 | 344 | | -100.0% |
| Net Income | 502 | 415 | 421 | 402 | 389 | -3.2% |
Balance Sheet
|
|---|
| Cash | 341 | 441 | 358 | 237 | | -100.0% |
| Short Term Debt | 0 | 0 | 0 | 0 | | |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 26 | 30 | 39 | 18 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 3.4% | 0.7% | -17.8% | -2.0% | -2.5% | |
| EBITDA growth | -4.0% | -8.6% | -21.0% | -1.1% | | |
| Gross Margin | 56.4% | 54.1% | 55.7% | 60.0% | | -60.0% |
| EBITDA Margin | 25.8% | 23.4% | 22.5% | 22.8% | 0.0% | -22.8% |
| Net Income Margin | 27.0% | 22.1% | 27.3% | 26.6% | 26.4% | -0.2% |
| SG&A, % of revenue | 32.0% | 31.9% | 36.1% | 40.9% | | -40.9% |
| CAPEX, % of revenue | 1.4% | 1.6% | 2.5% | 1.2% | | -1.2% |
| ROIC | 13.3% | 11.2% | 8.2% | 8.1% | | -8.1% |
| ROE | 16.2% | 12.4% | 12.0% | 11.2% | | -11.2% |
| Net Debt/EBITDA | -0.7x | -1.0x | -1.0x | -0.7x | | 0.7x |
Revenue and profitability
Goldlion Holdings Ltd's Revenue decreased on 2.5%.
Net Income marign showed almost no change in FY2016.
Appendix 1: Peers in Distribution/Wholesale
Below we provide Goldlion Holdings Ltd benchmarking against other companies in Distribution/Wholesale industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| C Y Foundation Group Ltd ($1182) | | -65.6% | 5.9% | 214.6% | -14.6% |
| China Fortune Holdings Ltd ($110) | -64.7% | -68.2% | -71.0% | 174.2% | |
| Hailiang International Holdings Ltd ($2336) | | -30.8% | -69.1% | 99.7% | 40.3% |
| Forefront Group Ltd ($885) | | 504.6% | 3,871.0% | 72.0% | |
| Yestar International Holdings Co Ltd ($2393) | | 22.8% | 30.5% | 60.3% | 23.1% |
| |
|---|
| Median (36 companies) | 1.0% | 3.6% | 1.1% | -1.3% | -14.6% |
|---|
| Goldlion Holdings Ltd ($533) | | 0.7% | -17.8% | -2.0% | -2.5% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Yunnan Tin Minerals Group Co Ltd ($263) | 79.6% | 66.3% | | 98.7% | |
| Goldin Financial Holdings Ltd ($530) | 75.3% | 71.7% | 74.8% | 73.8% | 55.8% |
| YGM Trading Ltd ($375) | 66.5% | 67.4% | 64.0% | 62.5% | 58.7% |
| E.Bon Holdings Ltd ($599) | 40.3% | 37.4% | 35.8% | 39.6% | 42.4% |
| Forefront Group Ltd ($885) | | | 69.8% | 39.1% | |
| |
|---|
| Median (34 companies) | 17.0% | 16.3% | 17.6% | 19.9% | 23.4% |
|---|
| Goldlion Holdings Ltd ($533) | 56.4% | 54.1% | 55.7% | 60.0% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China LNG Group Ltd ($931) | 95.1% | 76.4% | 97.9% | 1,277.8% | |
| Goldin Financial Holdings Ltd ($530) | 163.7% | 613.4% | 285.7% | 364.1% | 272.7% |
| China Infrastructure Investment Ltd ($600) | -274.9% | 120.0% | 52.0% | 134.5% | |
| China Yunnan Tin Minerals Group Co Ltd ($263) | -1,064.4% | -252.1% | | 62.8% | |
| GA Holdings Ltd ($8126) | 8.0% | 19.7% | 22.9% | 20.3% | |
| |
|---|
| Median (37 companies) | 1.7% | 1.7% | 4.4% | 3.8% | -5.2% |
|---|
| Goldlion Holdings Ltd ($533) | 25.8% | 23.4% | 22.5% | 22.8% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| SIS International Holdings ($529) | 13.4% | 31.8% | 14.8% | 49.8% | |
| Inspur International Ltd ($596) | 8.4% | 12.2% | 33.6% | 25.6% | |
| China LNG Group Ltd ($931) | 11.1% | 0.3% | 0.6% | 15.6% | |
| YGM Trading Ltd ($375) | 1.8% | 2.1% | 3.5% | 14.5% | 4.0% |
| Victory Group Ltd ($1139) | 0.7% | 0.1% | 6.1% | 12.6% | |
| |
|---|
| Median (36 companies) | 1.2% | 1.7% | 1.6% | 1.2% | 1.8% |
|---|
| Goldlion Holdings Ltd ($533) | 1.4% | 1.6% | 2.5% | 1.2% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China LNG Group Ltd ($931) | 8.4% | 7.4% | 87.0% | 56.2% | |
| Powerwell Pacific Holdings Ltd ($8265) | 6.4% | 6.4% | 23.6% | 27.1% | |
| Yestar International Holdings Co Ltd ($2393) | 28.8% | 24.1% | 26.2% | 25.4% | 18.8% |
| E.Bon Holdings Ltd ($599) | 7.0% | 7.2% | 3.3% | 16.9% | 17.4% |
| Goldin Financial Holdings Ltd ($530) | 5.9% | 20.6% | 10.4% | 16.0% | 8.7% |
| |
|---|
| Median (38 companies) | 2.1% | 0.2% | 3.0% | 2.6% | -6.2% |
|---|
| Goldlion Holdings Ltd ($533) | 13.3% | 11.2% | 8.2% | 8.1% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| SIS International Holdings ($529) | -1.8x | 7.0x | 7.2x | 16.8x | 27.3x |
| Leeport Holdings Ltd ($387) | | | | 16.1x | |
| Takson Holdings Ltd ($918) | | 11.5x | 11.7x | 15.7x | |
| Sheng Yuan Holdings Ltd ($851) | | | 19.3x | 15.4x | 3.0x |
| Forefront Group Ltd ($885) | | | -0.0x | 15.3x | |
| |
|---|
| Median (26 companies) | -0.1x | -0.5x | 0.7x | 0.0x | 1.8x |
|---|
| Goldlion Holdings Ltd ($533) | -0.7x | -1.0x | -1.0x | -0.7x | |
